Societe Generale, including Rosbank, acted as one of the sustainable development coordinators in the largest syndicated loan for Uralkali in Russia and CIS, linked to sustainable development indicators
- 16 June
Uralkali (the Company), one of the world's leading potash producers, for the first time in its history and the first among producers of mineral fertilizers in Central and Eastern Europe has signed the largest in Russia and CIS sustainability-linked syndicated loan agreement in the amount of US$1.25 billion with 18 banks with a loan maturity of 5 years. With the initially launched loan amount of up to US$1 billion, the offer from the banks was over US$1.5 billion, that demonstrates high level of support for the Company's sustainable development strategy by international and Russian financial institutions.
Sustainability key performance indicators to which the loan agreement is linked to cover ecological issues and as well as the safety operations of the Company. The loan will be used to refinance existing loans and for general corporate purposes of Uralkali.
Societe Generale, including Rosbank, acted as one of Sustainability Coordinators.
“Raising ESG financing is an important step in the development of the ESG strategy of the Company and reflects our efforts in the development of production safety and the environmental protection in the region of operation. We highly appreciate the support provided by our long-standing partner banks in this transaction, and we are also glad to welcome new lenders and look forward to further mutually beneficial cooperation," said Anton Vischanenko, Uralkali CFO.
"We are glad to support Uralkali in implementing its strategy based on sustainable development principles. The loan linked to sustainability KPIs is an important milestone in our partnership, which demonstrates our readiness to implement such ambitious initiatives of our client, providing high-class expertise of Societe Generale," said Perizat Shaikhina, First Deputy CEO of Rosbank.